How much money has Welsh Government provided to the Cardiff capital region, broken down by year?
Funding for the Cardiff Capital Region is made up of a contribution from the ten local authorities and the UK Government. The contribution from UK Government is paid via the Welsh Government on an annual flat profile. To date the Welsh Government have made the following payments on behalf of the UK Government:
- FY 2016-17 to 2020-21 – £10m revenue funding a year
- FY 2021-22 - £22m capital funding
The Welsh Government are co-funding delivery of the Housing Viability Gap fund with the Cardiff Capital Region. The aim of this fund is to bring forward development of previous stalled housing sites across the South East Wales Region. The Welsh Government commitment to this fund is £15m. To date the following payments have been made:
- FY 2019-20 - £15m capital funding
The Welsh Government have also paid a contribution to due diligence undertaken jointly with the Cardiff Capital Region to ensure the interests of both parties were protected in the sale of Newport Wafer Fab. The contribution totalled £29,139.25 and was paid in FY2020-21.